Phil Scott: “Most of our funding goes to homes that cost on average…”

“Census data and vacancy rates show that to meet current demand and create a healthy market that puts downward pressure on prices, we need 6,800 units. Right now, Most of our funding goes to homes that cost on average $450,000 per unit to develop. $450,000. So that's $3 billion in public and private funding just to fill the gap we have today. With these costs in mind, I think most of us would agree something's got to change.” (33:54–34:02)

This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.